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Deals and People August 28, 2015
Retirement Industry People Moves
New hires and promotions at Northern Trust and Associated Bank.
Reported by Jill Cornfield
Sabrina Bailey has joined Northern Trust Asset Management as global head of defined contribution, a new position created to strengthen Northern Trust’s strategic focus on its growing retirement solutions business.
Bailey, who has 15 years of experience, comes to Northern Trust from Mercer Investment Consulting in Seattle. As head of the U.S. defined contribution segment, she was responsible for the deployment of innovative solutions and intellectual capital, provided investment consulting services to some of the firm’s largest retirement plan clients, and led internal strategy, research and client service committees. Before joining Mercer, Bailey held senior consulting, client service and management roles at Towers Watson and two other firms. She holds a bachelor’s degree as well as a master’s degree in business administration from George Fox University in Newberg, Oregon.
Northern Trust also hired Gaobo Pang as senior behavioral finance specialist on the defined contribution solutions team. A recognized conference speaker and academic practitioner, Pang is known for his work at the consultant Towers Watson and at the World Bank.
Pang’s work for Towers Watson and the World Bank includes macroeconomic and policy research, statistical and econometric analysis of workers’ labor behavior, savings adequacy and investment choices, and developing and evaluating optimal strategies, particularly about qualified default investment alternatives and retirement income solutions. He has published extensively in periodicals including the “Journal of Retirement,” “Journal of Pension Economics and Finance” and “Financial Analysts Journal.”
Pang holds a bachelor’s degree in international economics from Fudan University in Shanghai, master’s degrees from Tsingua University in Beijing and the University of Maryland, and a Ph.D. in economics from the University of Maryland, College Park.
Stephen N. Potter, president of Northern Trust Asset Management, cited Bailey’s strong, experienced voice as an aid to the firm’s expansion of its defined contribution practice as it develops new products and builds assets under management. Pang’s expertise, he said, would be critical in helping the firm understand investor behavior in order to translate that knowledge into innovative solutions for DC plan sponsors.
Internally, Brian Bursua, who has been with Northern Trust since 2008, has joined the firm’s DC solutions group. He was previously an investment relationship manager/account manager, and prior to that, Bursua was in client services. He holds a bachelor’s degree in management from Southern Illinois University, Carbondale. Patrick Gaskin, who has been with Northern Trust for three years, has joined the firm’s DC solutions group. Previously, he was with Deutsche Bank. Gaskin holds a bachelor’s degree from the University of Illinois at Urbana-Champaign. These moves, in sales and service, are intended to further align resources and provide focus in serving the recordkeeper channel.
NEXT: Associated Bank adds benefits and retirement VP
Chad Heath joins Associated Bank in Green Bay, Wisconsin, as vice president and senior client adviser with associated private client and institutional services. He is responsible for assisting businesses in the areas of employee benefit and retirement plans, risk management and human resources. Heath collaborates with a company’s leadership team to understand their key areas of concern, and assembles a team of experts to develop a customized plan focused on delivering results.
Heath brings to Associated more than 15 years’ experience in insurance and financial services. Previously, he worked as a risk management professional specializing in entrepreneurial risks and professional liability. He also spent seven years operating his own independent insurance agency.
Heath holds the Certified Insurance Counselor (CIC) designation, as well as property and casualty, and life and health insurance licenses.